Vivek Trivedi, DNA | Last Modified - May 05, 2012, 05:15 AM IST
Indore: Pune-based Indian multinational Bharat Forge Limited (BFL) is all set to open its unit in Indore region.
The company plans to start first phase of its manufacturing unit in Betma with an estimated cost of `150 crore on 68 acre of land. The plant, which is expected to be completed in 2014, would offer direct employment to around 700 persons.
BFL and US-based company Meritor would establish the plant, Automotive Excel Limited. They envisage to increase the investment to `1000 crore by 2016.
General Manager, District Industry Centre, PN Raikwar said that application regarding land allotment has been received from the company. A proposal has been sent to the collector and commissioner, Industries for action.
The company representatives had visited the city in February this year and identified land in Betma.
The company later forwarded application to DIC Indore for land allotment following approval by company’s board of directors.
Company’s local industrial advisor Sudhir Malviya said that the plant would be completed in three phases. In the first phase, investment of Rs 150 crore would be made. The proposed plant would be meant for excel assembly and excel housing.
The company is eyeing customers based in Pithampur which have supply from company’s Pune and Mysore plants at present.
Malviya claimed that the proposed plant would commence within two months of receiving nod for land allotment. He added that the second phase would be undertaken in 2015 and third phase in 2017. Significantly, the company had received land allotment in Pithampur three years ago but had backed out from the project.